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Family business roundup: Profits up at H&M, down at SHV Holding, Bertelsmann and Italcementi

March 29, 2012

Hennes & Mauritz, the fashion retailer controlled by the Persson family, posted strong quarterly results this week, while three other European family businesses saw their annual profits drop.

Sales at H&M were up 13.6% to SEK27.83 billion (€3.14 billion) in the three months to the end of February 2012, from SEK24.5 billion during the same period last year, the company said on 29 March.

Family business roundup: Profits drop at Wates Group and Dassault Aviation, while Li & Fung posts strong results

March 27, 2012

Two European family businesses have posted poor financial results following “another difficult year”, but Li & Fung, a family-controlled trading group in Asia, has fared better.

In the UK, family-controlled Wates Group said on 26 March that revenues rose by 13% to £1.12 billion (€1.34 billion) in 2011.

Family business roundup: Wendel, Carlson, Inditex up, INM down

March 22, 2012

It’s been a mixed week for family businesses across the world, with some, including Wendel, Inditex and Carlson, reporting strong financial results, while Independent News & Media saw profits hit by tough trading conditions.

Wendel, the French investment company controlled by the eponymous family, said on 22 March that revenues jumped 17.5% in 2011 to €5.95 billion, from €5.07 billion in 2010.

Family business roundup: Canadian and European groups remain buoyant

March 15, 2012

Family businesses such as Power Corporation of Canada, Hennes & Mauritz and Zodiac have not just had a good 2011 but also a positive beginning to 2012.

Montreal-based Power Corporation of Canada, the financial services and communication company controlled by the Desmarais family, said revenues for fiscal 2011 rose to CAD$32.9 billion (€25.3 billion), up from CAD$32.8 billion the year before.

Family business roundup: Antofagasta, Empire and Wacker see growth

March 14, 2012

Be it in North America, South America or Europe, a number of family businesses have cemented their positions this week by reporting positive results for fiscal 2011.

Chilean mining company Antofagasta, controlled by the Luksic family, said on 13 March that preliminary sales for full-year 2011 rose to $6.07 billion (€4.64 billion), up from $4.57 billion the year before.

Family business roundup: Good week for Europe’s family-controlled firms

March 13, 2012

Asian countries have been growing faster than their European counterparts recently. Yet the reverse was seen in the family business sector this week, when five family firms in Europe posted strong results, while one Asian shipping company saw its profits drop by more than 80%.

Family business roundup: AB InBev, JC Decaux, Schmolz-Bickenbach and Brown-Forman post strong growth

March 9, 2012

Buoyant results have made it a good week for some of the world’s biggest family businesses, except for one Argentinian food group which saw its profits drop by almost a third.

Anheuser-Busch InBev, Belgium’s brewing giant controlled by the Lemann and De Spoelberch families, said on 8 March that revenues grew by 4.6% in 2011 to $39.05 billion (€29.53 billion), from $36.3 billion in 2010.

Family business roundup: Profits up at Jeronimo Martins, down at ERG and Matalan

March 7, 2012

Portuguese family business Jeronimo Martins posted strong results this week, while Italian energy group ERG and British retailer Matalan reported large falls in profits.

Jeronimo Martins, the food retailer controlled by the Dos Santos family, said revenues jumped 13.2% in 2011 to €9.84 billion, from €8.69 billion in 2010.

In a statement released on 7 March, the Lisbon-based group added that net profit for 2011 was €340 million, compared to €281 million in 2010 – a 21.1% increase.

Family business roundup: George Weston and Bombardier post weak results

March 2, 2012

It’s been a challenging year for two of Canada’s biggest family businesses, with plane and train maker Bombardier and food giant George Weston struggling to achieve strong profit rises.

Although Bombardier said on 1 March that net profit rose by 8% in 2011 to $837 million (€634.5 million), the Montreal-based group saw its fourth quarter net profits drop by 27.5% to $214 million, from $295 million in 2010.

Family business roundup: Bouygues, Luxottica and Sun Hung Kai Properties post strong results

February 29, 2012

Family businesses Bouygues, Luxottica and Sun Hung Kai Properties each announced positive financial results yesterday, but French industrial conglomerate Bouygues warned that increased competition could hit its telecoms division in 2012.

In a statement released on 28 February, the Paris-based company, which is 29.6% controlled by the Bouygues family, said revenues increased by 5% in 2011 to €32.7 billion, from €31.2 billion in 2010.